Medwell Capital Completes Adoption of IFRS

    




 EDMONTON, Nov. 21, 2011 /CNW/ - Medwell Capital Corp.  today  announced that the Company completed its adoption of International  Financial Reporting Standards ("IFRS") accounting standards with the  filing of amended financial statements for the three months ended March  31, 2011 and the three and six months ended June 30, 2011. The adoption  of IFRS had no effect on the financial results previously reported by  the Company. 

 The adoption of IFRS by the Company was announced by the Company on  October 3, 2011, and is a result of a decision from the Alberta  Securities Commission to not grant exemptive relief to allow Medwell to  continue reporting its financial statements using Canadian Generally  Accepted Accounting Principles. 

 About Medwell Capital Corp. 

 Medwell Capital Corp. is a Canadian-based merchant bank that provides of  capital and advisory services to the healthcare industry. For further  information please visit www.medwellcapital.com. 

 Neither TSX Venture Exchange nor its Regulation Services Provider (as  that term is defined in the policies of the TSX Venture Exchange)  accepts responsibility for the adequacy or accuracy of this release.   This press release may contain forward-looking statements, which  reflect the Company's current expectation regarding future events.   These forward-looking statements involve risks and uncertainties that  may cause actual results, events or developments to be materially  different from any future results, events or developments expressed or  implied by such forward-looking statements.  Such factors include, but  are not limited to, changing market conditions, the successful and  timely completion of clinical studies, the establishment of corporate  alliances, the impact of competitive products and pricing, new product  development, uncertainties related to the regulatory approval process  and other risks detailed from time to time in the Corporation's ongoing  quarterly and annual reporting.  We undertake no obligation to publicly  update or revise any forward-looking statements, whether as a result of  new information, future events or otherwise. 

Medwell Capital Corp.


CONTACT:  Tony Hesby                                     Ross MarshallMedwell Capital Corp.                          Investor Relations780-413-7152                                   416-815-0700 ext. 238780-408-3040 Fax                               416-815-0080 FaxE-mail: [e-mail]                E-mail:[e-mail]: http://www.medwellcapital.com 


    

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